Bitcoin Policy & Regulation
ByAuthor J.D. SmithPosted on
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Microsoft has no plans to make Tesla-like move into Bitcoin, says president

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Microsoft, the second-largest company in the United States, does not apparently have any short-term plans to put Bitcoin (BTC) on its balance sheet, according to the firm’s president Brad Smith.

In a Feb. 16 interview with CNN’s Julia Chatterley, Smith still hinted that Microsoft could still change its mind about a Bitcoin investment.

When asked whether Microsoft is discussing any cryptocurrency diversification plans following Tesla’s $1.5 billion investment in Bitcoin, the Microsoft president said that he is not aware of such discussions:

“I haven’t heard any new conversation about Bitcoin. But let me just say, if we change our investment policy on Bitcoin, Julia, you will be the first or at least the second to know.”

Bitcoin’s market capitalization is inching higher to overtake some of the largest American companies. As previously reported, Bitcoin market cap surpassed Tesla’s at around $808 billion shortly after the company announced its massive Bitcoin investment.

Following Bitcoin’s historical move to hit above $51,000 on Feb. 17, 2021, Bitcoin’s market capitalization stands at $948 billion at the time of writing. Bitcoin would need to double its market cap to reach Microsoft’s, which amounts to $1.8 billion at publishing time.

Market capitalization of Bitcoin vs. major firms. Source: AssetDash

On Feb. 12, JPMorgan Chase co-president Daniel Pinto claimed that the company will eventually have to get involved in Bitcoin due to surging demand. Previously, JPMorgan strategists argued that Tesla’s BTC purchase will not necessarily trigger a ton of similar investments due to Bitcoin’s high volatility.

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Bitcoin Policy & Regulation
ByAuthor J.D. SmithPosted on
1
0

Microsoft has no plans to make Tesla-like move into Bitcoin, says president

BY

Microsoft, the second-largest company in the United States, does not apparently have any short-term plans to put Bitcoin (BTC) on its balance sheet, according to the firm’s president Brad Smith.

In a Feb. 16 interview with CNN’s Julia Chatterley, Smith still hinted that Microsoft could still change its mind about a Bitcoin investment.

When asked whether Microsoft is discussing any cryptocurrency diversification plans following Tesla’s $1.5 billion investment in Bitcoin, the Microsoft president said that he is not aware of such discussions:

“I haven’t heard any new conversation about Bitcoin. But let me just say, if we change our investment policy on Bitcoin, Julia, you will be the first or at least the second to know.”

Bitcoin’s market capitalization is inching higher to overtake some of the largest American companies. As previously reported, Bitcoin market cap surpassed Tesla’s at around $808 billion shortly after the company…

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Bitcoin Markets
ByAuthor J.D. SmithPosted on
1
0

Bitcoin hits a new high of $51.3K as analyst declares ‘historic’ parabolic advance

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Bitcoin (BTC) hit new lifetime highs of more than $51,200 on Feb. 17 as it tackled what trader Peter Brandt confirms is a “parabolic advance.”

BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView

Bitcoin enters uncharted $50,000 zone

Data from Cointelegraph Markets and TradingView showed BTC/USD passing the $50,000 resistance level again on Wednesday, this time continuing into uncharted territory.

Tuesday had seen Bitcoin hit $50,000 for the first time ever, that level nonetheless failing to hold for more than a matter of minutes.

With its return, the largest cryptocurrency is in a “parabolic advance” — the fourth in its twelve-year history, analysts say.

“Big picture $BTC Bitcoin is undergoing its third parabolic advance in the past decade,” Brandt tweeted alongside an annotated price chart.

“A parabolic advance on an arithmetic scale is extremely rare - three on a log scale is historic.”

Responding, Kraken growth…

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Bitcoin Opinion Tech
ByAuthor J.D. SmithPosted on
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Ethereum joins the $200 billion club — But is it worthy?

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Ether (ETH) is up 150% in 2021, causing its market capitalization to soar above $200 billion. Most traders are fixated on the unitary price, even though it is entirely arbitrary, therefore missing relevant milestones and comparables.

Ether and Bitcoin YTD performance. Source: Digital Assets Data

Investors, mainly those coming from the traditional industry, are used to compare multiples of earnings, sales, and market share. Meanwhile, when valuing a cryptocurrency with multiple use cases, there is no single metric to gauge its potential. Ether might simultaneously act as a digital store of value while functioning as the token required to access the Ethereum network.

ETH market cap, in USD billion. Source: TradingView

To evidentiate the myopia caused by unitary prices, Cardano (ADA) is priced below $1, although its market capitalization is over $26 billion. Therefore, the outstanding number of coins matters just as much. At the other extreme, Cover…

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Bitcoin Business Latest Markets
ByAuthor J.D. SmithPosted on
1
0

Bitcoin Hits New High Above $51K, Shrugging Off Rising Bond Yields

BY

Bitcoin’s dizzying bull run is showing no signs of slowing down despite an uptick in U.S. government bond yields.

The cryptocurrency market leader set a new lifetime high of $51,348 early Wednesday, having penetrated the psychological level of $50,000 on Tuesday for the first time, according to CoinDesk 20 data. Prices have risen by 53% this month alone.

The latest move higher comes on the heels of an announcement by public listed company MicroStrategy that it plans to boost its bitcoin stash yet again. The firm announced a $600 million debt sale on Tuesday, which will fund the additional purchases. The business intelligence firm has been buying bitcoin since August 2020 and is sitting on a profit of more than $2 billion on its holdings.

According to Avi Felman,…

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Bitcoin Markets
ByAuthor J.D. SmithPosted on
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‘Fair Launch’ tokens outshine the average coin’s performance

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So-called ‘Fair Launch’ tokens are outperforming most projects released via centralized token distribution events, according to crypto market data aggregator Messari, 

Messari defines Fair Launch tokens as having a publicly announced launch without any form of pre-mine. These include older top 10 crypto assets Bitcoin and Litecoin, newer DeFi projects such as Yearn.Finance and SushiSwap, and veteran 2013 altcoin Peercoin.

Fair Launch tokens appear to be outperforming the broader crypto markets by more than double over the past three months. 

The top 1,026 crypto markets gained an average of 9.56% this past week, compared to the 31.44% average gain seen by Fair Launch projects over…

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Bitcoin
ByAuthor J.D. SmithPosted on
10
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YouTuber regrets spending 37 BTC — now worth $1.8M — on used Hondas

BY

A Honda enthusiast has released a YouTube video revealing how he spent a bunch of Bitcoin on two used sports cars.

Known on social media as “NSXTRA”, Chris Cut’s Feb. 16 YouTube video titled “Idiot Spends $1.8 Million of Bitcoin on Old Hondas” reveals how much he regrets spending large amounts of Bitcoin at today’s prices on the classic sports cars.

The first car in question is a Honda NXS Targa which he bought on Valentine’s Day in 2017, claiming to have got it for a “great price” of $30,500, which he paid in Bitcoin, calling it “a steal”.

On the day he bought the Targa in 2017, BTC was trading around a thousand dollars a coin so the car cost him 30.5 BTC. At today’s Bitcoin prices, the car set him back almost $1.5M

He added that he parted with 6.5 BTC to pay for another Honda on…

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